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Asia-Pacific stocks show mixed performance; Hang Seng falls, Nikkei rises

EditorPollock Mondal
Published 11/17/2023, 06:58 PM
© Reuters.
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In today's trading session, Asia-Pacific stock markets exhibited mixed trends, with key indices across the region moving in different directions. Hong Kong's Hang Seng Index experienced a notable drop, falling 2.1% to close at 17,454.19 and marking a continuous two-day decline. In contrast, Japan's Nikkei 225 Index bucked the trend with an increase of 0.5%, ending the day at 33,585.20.

The Shanghai Composite Index in China edged up slightly by 0.1%, reaching 3,054.37, while other indices in the region saw declines. Singapore's FTSE Straits Times Index decreased by 0.3% to 3,124.27, South Korea's KOSPI Composite Index dropped by 0.7% to 2,469.85, and Australia's S&P/ASX 200 Benchmark Index dipped by a marginal 0.1%, settling at 7,049.40.

Among individual stocks on the Hang Seng Index, Netease led the gains with its shares climbing by 2.1%. Pharmaceutical companies Sino Biopharmaceutical and Hansoh Pharmaceutical also performed well, with their shares increasing by 1.9% and 1.7%, respectively. However, not all shared in the upward movement; Alibaba (NYSE:BABA) Group Holding witnessed a significant fall in its share price, plunging by 10%. Alibaba Health Information Technology and Baidu (NASDAQ:BIDU) also faced declines of 6.3% and 4.9%, respectively.

On the brighter side within the Nikkei index constituents, Panasonic (OTC:PCRFY) Holdings saw its shares soar by 5.5%, followed closely by construction company Kajima and Japan Post Holdings (NYSE:POST) which both rose by 3.6%. On the losing end for the Nikkei were Asahi Group Holdings with a share drop of 4%, and Sumitomo Realty & Development along with Shiseido which saw their shares decrease by 3.5% and 2.2%, respectively.

The varied performance of these indices reflects the diverse economic conditions and investor sentiments across the Asia-Pacific region. As markets continue to react to both regional and global economic indicators, investors remain attentive to shifts in stock movements within these influential markets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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